Interest rates fall after disappointing consumer confidence data, 2-year notes sale

Rates dip after weak consumer confidence data

CHARLOTTE, N.C. — Interest rates are falling in the bond market as investors move into safer investments after a disappointing report on consumer confidence.

A downgrade of Greece’s biggest banks by Fitch Ratings Tuesday is also feeding worries about the economy.

The Conference Board says its consumer confidence index fell to 46 in February from 56.5 last month. That’s below the forecast of economists polled by Thomson Reuters, who expected a reading of 55.

The data from the private research group troubled investors, who sent the Dow Jones industrials down 75 points.

The yield on the 10-year Treasury note maturing in February 2020, which is a basis for rates on mortgages and other consumer loans, has fallen to 3.70 percent from 3.80 percent late Monday. Its price is down 5/32 at 98 18/32.